Falcon Progress Ltd. Vs.sara International Ltd.

Falcon Progress Ltd. vs Sara International Ltd.

Type Court Judgment Court Delhi Decided Sep 21, 2017

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https://sooperkanoon.com/case/1209228

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Citation: sooperkanoon.com/1209228
Court: Delhi High Court
Decided On: Sep 21, 2017
Subject: Arbitration

Case Summary

AI-generated summary - not the official court judgment text.

Arbitration

Key legal issue: Arbitration

Parties & Advocates

Appellant / Petitioner

Falcon Progress Ltd.

Respondent

Sara International Ltd.

Excerpt

$~42 * in the high court of delhi at new delhi % + judgment delivered on:21. 09.2017 ex.p. 25/2014 falcon progress ltd ..... decree holder versus sara international ltd ..... judgement debtor advocates who appeared in this case: for the... petitioner : ms. gunika gupta, advocate. for the... respondents : ms. anu srivastava, advocate. coram:-"hon’ble mr justice sanjeev sachdeva judgment2109.2017 sanjeev sachdeva, j.(oral) ex.p. 25/2014 & ex.appl.(os) 582/2014 (under section 47 & 48 of the arbitration & conciliation act, 1996 filed on behalf of judgment debtor), 260/2017 (under order xxi rules 12, 13, 30 & 41 filed on behalf of decree holder) 1. by the present petition, the petitioner seeks execution of final award dated 22.11.2012.2. the judgment debtor has deposited a sum of rs.1,33,11,141/- with the registry of this court. the judgment debtor has also deposited a sum of rs.96,48,602/- as tax deducted at source (tds) ex. p. 25/2014 page 1 of 2 on the said amount.3. learned counsel for the decree holder submits that on payment of the said amount of rs.1,33,11,141/- and the deposit of the tax, the award/decree dated 22.11.2012 shall stand satisfied.4. the registry is directed to release the said amount of rs.1,33,11,141/- in favour of the decree holder.5. the judgment debtor shall also furnish to the decree holder certificate under 26as of the income tax act within the statutory period.6. in view of the above, satisfaction of award/decree dated 22.11.2012 is recorded.7. the petition is, accordingly disposed of. sanjeev sachdeva, j september21 2017 st ex. p. 25/2014 page 2 of 2

Full Judgment

$~42 * IN THE HIGH COURT OF DELHI AT NEW DELHI % + Judgment delivered on:

21. 09.2017 EX.P. 25/2014 FALCON PROGRESS LTD ..... Decree Holder versus SARA INTERNATIONAL LTD ..... Judgement Debtor Advocates who appeared in this case: For the... Petitioner

: Ms. Gunika Gupta, Advocate. For the... RESPONDENTS

: Ms. Anu Srivastava, Advocate. CORAM:-

"HON’BLE MR JUSTICE SANJEEV SACHDEVA JUDGMENT2109.2017 SANJEEV SACHDEVA, J.

(ORAL) EX.P. 25/2014 & Ex.Appl.(OS) 582/2014 (under Section 47 & 48 of the Arbitration & Conciliation Act, 1996 filed on behalf of Judgment Debtor), 260/2017 (under Order XXI Rules 12, 13, 30 & 41 filed on behalf of Decree Holder) 1. By the present petition, the petitioner seeks execution of Final Award dated 22.11.2012.

2. The Judgment Debtor has deposited a sum of Rs.1,33,11,141/- with the Registry of this Court. The Judgment Debtor has also deposited a sum of Rs.96,48,602/- as Tax Deducted at Source (TDS) EX. P. 25/2014 Page 1 of 2 on the said amount.

3. Learned Counsel for the Decree Holder submits that on payment of the said amount of Rs.1,33,11,141/- and the deposit of the tax, the Award/Decree dated 22.11.2012 shall stand satisfied.

4. The Registry is directed to release the said amount of Rs.1,33,11,141/- in favour of the Decree Holder.

5. The Judgment Debtor shall also furnish to the Decree Holder certificate under 26AS of the Income Tax Act within the statutory period.

6. In view of the above, satisfaction of Award/Decree dated 22.11.2012 is recorded.

7. The petition is, accordingly disposed of. SANJEEV SACHDEVA, J SEPTEMBER21 2017 st EX. P. 25/2014 Page 2 of 2

Same Court & Year Delhi · 2017 Same Parties Falcon Progress Ltd. vs Sara International Ltd. Same Subject Arbitration